Quick poll - annual cost of nanny

[Anonymous]

Anonymous wrote:

Anonymous wrote:How much are you people making to pay 72k after tax income to an employee? It means you would have to make at least 140k just to break even and afford nanny, and at least 200k to make the extra income worth it (assuming you work just for the money)? So approx 200k income for the parent who would otherwise be caregiver seems to be the minimum income to have a nanny make sense?

I'd never pay 72k and put my trust in a nanny. I only trust center-based childcare and you can do it for about 26k/kid at good ones and you kid gets socialization. That said, nobody loses 50% of their salary to taxes, which is what your calculation implies.

Please don’t put your trust in a daycare because it’s center-based! I’ve worked in two highly regarded center-based daycares (one a Bright Horizons) and both instructed the teachers to withhold information from parents and lie. You still have to be vigilant, PP. Follow up, ask questions, ask to review the tapes if your child is injured; know the teachers; and check the internet feeds. I’m not saying don’t use daycare but I am saying to not be so trusting. I hired a nanny because I’ve worked in daycare centers.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How much are you people making to pay 72k after tax income to an employee? It means you would have to make at least 140k just to break even and afford nanny, and at least 200k to make the extra income worth it (assuming you work just for the money)? So approx 200k income for the parent who would otherwise be caregiver seems to be the minimum income to have a nanny make sense?

Two working parents and prioritizing childcare. Our nanny basically earns my salary but she has a skill set we don’t have (preschool teacher and ECE degree) and I love my work. Two children.

It's not JUST prioritizing childcare though. We make 60k and 95k. After taxes, health insurance, and retirement savings, our $1250 mortgage, bills, and groceries, we literally do not have the money to pay someone this much. I guess maybe we could swing it if we completely stopped saving anything and paid on the lower end, but our retirement savings would be post tax and day care is about 15k, so still we wouldn't wind up with 70k+.

My point is just it's a little ridiculous to say the salary amount doesn't matter, it's all about priorities, because math is real. Many working adults do not have enough income to pay a full time household employee. Doesn't mean they wouldn't prefer not to have to rush their kids out the door in the morning! Money really does make things easier and more pleasant! It's ok to admit.

NP here. We had a nanny before we had a mortgage and DH was finishing his doctorate. It is prioritizing to some extent for some parents. We paid her largely from savings.

I wouldn't be paying a nanny $60-$70K a year as a renter. That's just giving money away hand-over-fist. But TETO.

No clue what TETO is but it was well worth it for us and especially our child.

[Anonymous]

About 69k(Health Ins stipend, payroll, vacation paid) Our nanny is great and our son adores her so well worth it.

[Anonymous]

In 2021- 82K for 2 kids, plus workers comp. Includes 3 wks paid vacation per contract but she usually gets closer to 5 wks. Kids are school age so many of the hours are pretty easy but we need the FT coverage for emergencies, non camp days in summer, and school days off. Going on on year#7, her salary has gone up as ours have increased over time.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How much are you people making to pay 72k after tax income to an employee? It means you would have to make at least 140k just to break even and afford nanny, and at least 200k to make the extra income worth it (assuming you work just for the money)? So approx 200k income for the parent who would otherwise be caregiver seems to be the minimum income to have a nanny make sense?

I'd never pay 72k and put my trust in a nanny. I only trust center-based childcare and you can do it for about 26k/kid at good ones and you kid gets socialization. That said, nobody loses 50% of their salary to taxes, which is what your calculation implies.

Please don’t put your trust in a daycare because it’s center-based! I’ve worked in two highly regarded center-based daycares (one a Bright Horizons) and both instructed the teachers to withhold information from parents and lie. You still have to be vigilant, PP. Follow up, ask questions, ask to review the tapes if your child is injured; know the teachers; and check the internet feeds. I’m not saying don’t use daycare but I am saying to not be so trusting. I hired a nanny because I’ve worked in daycare centers.

+1. Especially now with the daycare teacher shortages.

[Anonymous]

We paid about $50k all in. Would have been more but she took a lot of unpaid time off over the year. Second tier market and she had zero nannying experience. Our HHI was about $225k so it was definitely doable, but I did feel stretched thin. I think responders here may be a unique subset of the population? Because I think many many people use cheaper options, unpaid family members, etc. I am in a Facebook moms group and someone someone will advertise that they need care. They’ll offer something like $175/week for full time care. Makes me sad for anyone doing that work so cheap; also makes me sad for the kids because I can’t imagine you’re getting quality care for you kids at that rate.

[Anonymous]

Does everyone in Dc pay on the books? Not DC here and no one I know pays on the books.

[Anonymous]

Center based is the worst. Caregivers change every month, dont be surprised at behaviour issues later on. Babies need secure attachment. Teachers are paid badly and dont care about your child. Not even talking about bad food, kids napping on the floor, getting sick twice a month. Former center teacher turned nanny.

[Anonymous]

Anonymous wrote:Does everyone in Dc pay on the books? Not DC here and no one I know pays on the books.

Yes everyone in DC pays on the books. I nannied in Chicago for 15 years and I'd say 90% of my interviews wanted to pay cash. Moved to DC 10 years ago and have never ever heard a family bring up cash as an option. Much prefer it this way- it was so hard finding families to take me seriously and pay on the books in Chicago!

[Anonymous]

$74k gross for 3 kids, 45 hrs per week.

We actually did daycare for the kids when they were younger - we liked that each child was in an age-appropriate environment. We paid $6600 per month, so not cheaper than a nanny, but we thought it was good for the kids.

But as kids became older, they need someone to drive them around to activities, do homework, etc., so now spend the money on a nanny.

But we are a high income family - I gross around $200k and DH makes seven figures, so fully appreciate how lucky we are to continue to have help with the kids.

[Anonymous]

I paid about 50K per year all-in for one child til my kid turned 3 and went to a cheaper neighborhood daycare. My nanny was a 50s Hispanic woman with little English and a heart for babies and my daughter loved her. I rented out my full basement and that brought in about 18K per year. Big sacrifice on my 75K salary plus the 18K rent I received plus 8K weekend babysitting money -- all these are approximate.

So I paid apprx 50% of my gross income for first 3 years. I had some savings before deciding to become a parent. I never asked my early 70s parents for money but I knew they would come through if I needed it. So yes, I am privileged in that way.

Plan plan plan.

[Anonymous]

My part of the share is 33,000

[Anonymous]

For those shocked at the cost I would point out that yes, it’s a pretty privileged position to be in to make enough money to be able to pay someone else’s entire salary and have that make sense. That’s not most people.

Childcare expenses are bonkers and a problem for sure but daycare options are always going to be more affordable than having a professional nanny, even with multiple young kids.

[Anonymous]

40k a year 2 older elementary and middle school that just require morning and evening car shuttle and meals. She's live in and would charge more for younger kids that need more time

[Anonymous]

Anonymous wrote:60k for 5 kids

Only an undocumented person would take this job. For five kids a nanny should be paid $100,000/yr.